November new loans hit 624.6 bln yuan, M2 up 14.2%, PBoC says

Chinese banks extended 624.6 billion yuan (US$102.82 billion) in new renminbi loans in November, an increase of 102.6 billion yuan from a year earlier, the People’s Bank of China (PBoC) said Wednesday. M2, a broad measure of money supply, rose 14.2 percent at end-November from a year ago, exceeding the official full-year target of a 13 percent gain but slower than 14.3 percent growth in the previous month, the central bank said on its website. Aggregate financing, which tracks society-wide funding activities, was 16.06 trillion yuan from January to November, up 1.92 trillion yuan from the same period last year, the PBoC said.

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